0
Theoretically, yes. However, it is unlikely you would find a lender willing to loan you money on less than a full interest such as a one half share in the property. When a lender loans money secured by real estate, it wants to be able to take possession of the the property by foreclosure if the mortgage isn't paid. If only one co-owner signed a mortgage the lender can only take their interest in the property.
In order for a lender to be able to foreclose and take possession of the property, all owners must sign the mortgage.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How does a secured loan differ from an unsecured loan?
A secured loan is a loan that some monetary interest (money or property of value) attached to the loan to insure its repayment. If the loan is not repaid, the monetary interest becomes the property of the loaning party. A unsecured loan does not have a monetary interest attachment.
What is a property developer's source of revenue?
Interest of loan
What is the difference between a mortgage and a loan?
A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.
What is the difference between a loan and a mortgage?
A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.
Can a spouse get a home equity loan without the other spouse's signature?
All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.
What is colleteral?
Collateral is the property a borrower pledges to a lender in a loan. This property secures the lender's interest. A house is the collateral on a mortgage loan.
Can a bank take property they have no interest in?
Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.
What is a fixed rate mortgage?
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
Will you ever own a interest only property?
Interest only property loans are a type of loan in which includesan option to make a payment on the interest. I would not ever own an interest only property because I do not plan on buying a house.
Can you get an income tax exemption on a housing loan taken on your mother's property?
No. You MUST be on the title and the loan. Also, it is unlikely you can find anyone to give YOU a loan on your mothers property, without your name being on the property.
Is a re mortgage the same thing as a mortgage?
No, a mortgage is a loan taken from a bank to purchase land or property. A remortgage is a loan taken from a bank to pay off an existing mortgage. This is done in an attempt to lower the amount of interest paid to the bank, and should not be confused with a second mortgage.
If property acquired after marriage in a community property state considered to be community property if a loan is taken against the property.?
Yes.Yes.Yes.Yes.
